The following questions deal with operational auditing. Choose the best response. a. Which of the following best describes the operational audit? (1) It concentrates on seeking aspects of operations in which waste would be reduced by the introduction of controls. (2) It requires constant review by internal auditors of the administrative controls as they relate […]
The following questions deal with internal auditing. Choose the best response. a. The independence of the internal audit department will most likely be assured if it reports to the (1) audit committee of the board. (2) president. (3) controller. (4) vice president of finance. b. In assessing the competence of internal auditors, an independent CPA […]
1. Explain the role of internal auditors for financial auditing. How is it similar to and different from the role of external auditors? 2. Explain how governmental financial auditing is similar to and different from audits of commercial companies. Who does governmental auditing?
FINC331 Week 7 Discussion Cash Collections 1. Consider cash collection items. How can a firm minimize this time and what are some of the costs? Do we worry about this as individuals as well? If so, how? (Excellent presentation on Cash Management and various ways companies can increase cash collections.(Cash Management by Dr Chitkara) (PDF […]
In an engagement to review the financial statements of a nonpublic company, SSARS require the accountant to obtain review evidence that is primarily based on inquiries and analytical procedures. The nature of the accountant’s inquiries is a matter of judgment. For example, the accountant may consider the nature and materiality of the items, likelihood of […]
The following are miscellaneous questions about compilation and review services. Choose the best response. a. Which of the following best describes the responsibility of the CPA in performing compilation services for a company? (1) The CPA has to satisfy only himself or herself that the financial statements were prepared in conformity with accounting standards. (2) […]
REVIEW OF INTERIM FINANCIAL INFORMATION FOR PUBLIC COMPANIES Describe special engagements to review interim financial information for publiccompanies.
As a part of the audit of Ren Gold Manufacturing Company, a nonpublic company, management requests basic financial statements and separately, the same basic financial statements accompanied by additional information. Management informs you that the intent is to use the basic financial statements for bankers, other credi- tors, and the two owners who are not […]
The following questions concern auditing year-end cash and financial instruments. Choose the best response. a. Which of the following controls would most likely detect a kiting scheme? (1) Preparing a bank reconciliation (2) Using a lockbox system for customer receipts (3) Comparing the details of deposit tickets and recorded remittance advices (4) Preparing a bank […]
Answer the following questions in INTERNATIONAL FINANCE with 500 words use APA format Read the following articles: https://www.wsj.com/podcasts/google-news-update/why-banks-are-breaking-up-with-crypto/55cd1b98-4cbd-4c52-80a2-f5fd55e000d5?page=1https://www.wsj.com/podcasts/google-news-update/why-banks-are-breaking-up-with-crypto/55cd1b98-4cbd-4c52-80a2-f5fd55e000d5?page=1Links to an external site. https://www.wsj.com/articles/a-digital-dollar-would-empower-the-fed-not-americans-currency-cbdc-transactions-central-bank-money-11675807545?mod=article_inlinehttps://www.wsj.com/articles/a-digital-dollar-would-empower-the-fed-not-americans-currency-cbdc-transactions-central-bank-money-11675807545?mod=article_inlineLinks to an external site. Answer the following questions with 500 words use APA format. What do you think about digital currency? Explain. What will happen to crypto market? Predict and explain.
